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Bank Wire – Interim rule provides temporary relief from FDICIA requirements

$225.00

SKU: CBAwi214. Category: .

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Abstract: This brief summary of recent events in community banking explains an interim rule from the FDIC that temporarily suspends specific requirements of the Federal Deposit Insurance Corporation Improvement Act of 1991 for banks that experienced significant asset growth in 2020. It also notes that banks need to prepare for the upcoming transition away from LIBOR, and points out that the Small Business Administration, with support from the Department of the Treasury (see below), recently released a simpler application designed to streamline the forgiveness process for some PPP loans.

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